An 82-year-old former attorney and senior partner at Fluxmans Incorporated has been sentenced to an effective 10 years’ direct imprisonment after being convicted of stealing nearly R40 million from an escrow account entrusted to his care.
This was revealed by NPA South Gauteng Spokesperson Magaboke Mohlatlole in a statement on Thursday 9 July 2026.
Mohlatlole said Solomon Slom was convicted on 290 counts in the Specialised Commercial Crimes Court sitting in Palm Ridge, comprising 145 counts of theft and 145 counts of money laundering.
He said the court sentenced Slom to 10 years’ imprisonment for theft and a further 10 years for money laundering. The sentences , he said, will run concurrently, leaving him with an effective 10-year prison term.
According Mohlatlole, the offences stem from the misappropriation of about R39.8 million held in an escrow account administered by Fluxmans Incorporated.
The court heard that in 2018 the law firm acted as an escrow agent under a Subscription Agreement and Escrow Agreement concluded between several parties.
In terms of those agreements, R45 million was deposited into the escrow account pending the fulfilment of certain contractual obligations.
After a dispute arose between the contracting parties, the money was required to remain in the escrow account until the dispute had been resolved.
However, investigations later revealed that about R39.8 million had been unlawfully siphoned from the account through 145 fraudulent transactions authorised by Slom.
The court heard that the fraudulent payment requisitions diverted the money into a bank account over which Slom held power of attorney, despite the account having no connection to any of the parties to the escrow agreement.
Evidence presented during the trial showed that Slom used the money for his personal benefit, causing the complainant a financial loss of approximately R39.8 million.
Senior State Advocate Pretty Mabunda successfully argued that Slom unlawfully appropriated money entrusted to him in his professional capacity and deliberately concealed the proceeds through a series of fraudulent transactions.
The court subsequently found him guilty on all counts of theft and money laundering.
The NPA welcomed both the conviction and sentence, saying the outcome sends a strong message that professionals entrusted with safeguarding the financial interests of others will be held accountable if they abuse that trust.
“The successful prosecution reaffirms the NPA’s commitment to combating serious commercial crime, protecting the integrity of the legal profession and ensuring that perpetrators of financial crimes face the full might of the law,” the prosecuting authority said.
